Since the beginning of this year, supplies of petroleum products from India to Germany have increased more than ten times compared to the same period in 2022. This is reported by the Federal Statistical Office of Germany.
Germany continues to purchase Russian oil in the form of petroleum products from India, since these petroleum products, in particular diesel fuel, are produced at Indian oil refineries from Russian oil, writes the German newspaper Bild.
It is noted that Western countries have introduced a price ceiling for black gold from Russia at $60 per barrel; the restriction also applies to supplies from the Russian Federation to third countries if the raw material is transported by a tanker of a Western company or with Western insurance.
“However, Russia has learned to circumvent these restrictions. For example, reselling a cargo of oil on the high seas. As a result, Russia’s revenues from oil exports increased by August to $17.1 billion—the maximum since October 2022,” the publication writes.
As reported EADaily, the price ceiling on Russian oil introduced by the West last year should be abolished, since it did not fulfill its purpose – to reduce Russia’s revenues from hydrocarbon exports. Oil strategist told Bloomberg First Word Julian Lee.
Restrictive measures by the West, he noted, have only led to an increase in risky operations for transshipping oil at sea from one tanker to another, and this increases the likelihood of an environmental disaster.
2023-10-03 18:27:00
#Ceiling #Germany #buys #Russian #oil #Russia #increases #export #revenues #EADaily
